Money Monday: What to know about expanded child tax credit

The federal government recently began offering expanded child tax credit payments for U.S. families amid the pandemic. Here's what you need to know.

Over the past few weeks, the federal government has been depositing expanded child tax credit payments to families due to the pandemic.

The payments are coming from the American Rescue Plan to help offset child poverty during a time of financial hardship for many. While the payments do have benefits, there are some things you need to know.

Watch the video above to learn more.

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About the Author:

Rod Meloni is an Emmy Award-winning Business Editor on Local 4 News and a Certified Financial Planner™ Professional.